A Brief Note On Transparency On Corporate Governance

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While the history of private enterprise is thousands of years old, a relevant launchpad to understand the modern corporation, and its associated concepts of limited liability and disclosure etc. can be with the corporations of the 17th century.

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Social entrepreneurship which has been applied in so many different ways by so many different analysts that it’s depth of vast complexity is still being unraveled and it seems it is still in infancy. It is a multi-interpretable concept and although the use of the term is widespread its use is either overrated or misused. Hence, it is important to firstly understand what social entrepreneurship really is.

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A successful organization depends on a solid strategic plan that includes how it intends to handle transparency. In his article, (Champy, 2008) emphasizes several principles he discovered while researching organizations for his book, the one that resonates with both my personal and professional life is to be completely open and transparent. He further goes on to outline the needs of a culture that embraces and values transparency. Indeed, many experts and professionals agree that corporate transparency and efficient resource allocation are closely related. The transparency, or essentially the clear picture, as it relates to resource allocation allows organizations to regularly direct their assets in the right directions, making it easier for them to be allocated in more productive and useful areas of the organization. The rationale for this strategy is fairly simple; having a clear picture means additional assurance for the investing parties Francis et al., (2009). Using the roadmaps created from the strategic plan, smart leaders easily figure out the risks involved, and take necessary measures to eliminate or ameliorate them.